TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Tron Price Chart: TRX/USD on the verge of a breakout, spikes 5% on the day

  • Tron (TRX) recovers steadily from the March lows; likely to test $0.0200 in the short term.
  • TRX/USD set to gain more ground if the triangle resistance is broken.
Tron Price Chart: TRX/USD on the verge of a breakout, spikes 5% on the day
John IsigeJohn IsigeFXStreet

Tron is among the best performing cryptocurrency in the market with gains of more than 5% in the last 24 hours. Since March 2020 when TRX dropped to levels around $0.007, recovery has been steady but gradual. However, Tron has faced a fair share of hurdles initially at $0.0125, $0.0150, and $0.0175.

At the time of writing, TRX/USD is teetering at $0.01847 and battling resistance at the rising triangle pattern resistance. With indicators such as the RSI and the MACD trending upwards, gains are likely to increase in the short term.

The 50 SMA is almost crossing above the 200-day SMA as bulls display greater strength than the bears. If the positive technical picture remains intact, Tron could eventually step above $0.02. In February TRX traded highs of $0.0268 as the market generally moved upwards. The volatility could increase to this level as soon as other cryptocurrencies such as Bitcoin, Ethereum, and Ripple start to trend upwards.

TRX/USD daily chart
TRX/USD price chart

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Why altcoin season isn't coming back — and what stole its capital

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin recovers, trading above $78,000 on Friday, but the 50-week SMA near $78,760 continues to cap its upside. A hawkish Fed outlook, escalating Middle East tensions, and the CLARITY Act's failure to advance in the US Senate could limit BTC upside.

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

BTC has staged a strong recovery after falling to a yearly low of $57,800 in July, gaining nearly 33% and recording two consecutive months of gains in July and August. Is this the start of a new bullish phase, or simply another recovery within a broader bear-market cycle?

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Bitcoin trades higher near $78,000 on Friday as bulls return after early-week macro uncertainty and regulatory headwinds. Ethereum aligns with the broader crypto market’s neutral-to-bullish outlook, holding support above $2,400 and gaining momentum for a short-term breakout at $2,500.

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.